Australia

Young Aussies staying at home for longer amid cost of living pressures

A young Australian who has been bitten by the travel bug has revealed she wouldn’t plan a trip around the world if she didn’t live at home and not have to battle living cost pressures.

It comes as recent research shows more and more young Australians are staying in their parents’ homes for longer due to the housing crisis.

Born and raised in Sydney, 25-year-old Alana Avallone only discovered her love of travel on a Contiki to Italy last June, and was already planning her next one.

However, Ms Avallone said she was only able to save enough for the holidays because she could stay at home and be supported by her parents, and said many young Aussies should do the same if they can.

“I don’t think I would plan my next trip if I was living away from home and paying rent every week, especially living in the more expensive parts of Sydney,” she told Daily Mail Australia.

Young Australian university student Alana Avallone (pictured) has revealed she wouldn't be able to plan an extended European holiday if she didn't live with her parents

Young Australian university student Alana Avallone (pictured) has revealed she wouldn’t be able to plan an extended European holiday if she didn’t live with her parents

Although living at home eases some burdens, she said her finances are still tight as a student.

“Living at home means I don’t spend money on rent, but I do have other bills, like my phone and car, which add up but aren’t as much as the rent money,” Ms Avallone said.

She said she wished she had started traveling sooner.

“If I had taken a gap year at 18, I probably would have developed my confidence and independence early, rather than at 25,” she said.

“I probably could have really sat down and thought about what I really wanted to do and find my passions.”

She added that the current economic situation makes it more difficult for young Aussies to travel the world and gain the life experience she gained from her journey with Contiki.

When she thinks about leaving her parents’ house, she quickly remembers how much money she saves by staying there.

Ms Avallone was bitten by the travel bug after a trip to Italy in June last year and said the cost of living crisis would turn other young Aussies away from the life experiences she learned on her trip

Ms Avallone was bitten by the travel bug after a trip to Italy in June last year and said the cost of living crisis would turn other young Aussies away from the life experiences she learned on her trip

After going on a solo trip shy and nervous, she returned with more confidence and said she is now returning to college to follow her passion as a travel writer.

After going on a solo trip shy and nervous, she returned with more confidence and said she is now returning to college to follow her passion as a travel writer.

The more young Aussies stay at home

Recent research from the University of Melbourne’s Household, Income and Labor Dynamics in Australia (HILDA) survey revealed that 54 percent of young men and 47 percent of young women aged 18 to 29 were still living under the same roof as their parents.

According to the researchers, there were a number of factors preventing young Australians from getting their first foothold on the property ladder.

Professor Roger Wilkins, deputy director of the HILDA Survey at the University of Melbourne, said many young Aussies were taking longer to find their way into the job market, incomes were falling and the cost of living was rising.

“We have seen increases in higher education participation, declining full-time employment opportunities for young people, rising housing costs and a trend toward later marriage and family formation.”

“The traditional signs of adulthood now occur later in life.”

Ms. Avallone urged high school students about to finish high school to take a break from their studies and take a gap year.

Ms. Avallone urged high school students about to graduate from high school to take a break from their studies and take a gap year.

Lyn Craig, professor of sociology and social policy at the University of Melbourne, highlighted a very serious implication for young people living at home longer.

‘While we live longer so we have time to stretch out and slow down events and transitions throughout our lifespan, one thing we can’t really slow down is fertility.

“So there may be consequences for young people taking on the great adventure of parenthood,” Professor Craig said.

‘Since the mid-twentieth century, fertility in Australia has fallen below levels for the first time and I think that has something to do with the price of housing and the fact that young people cannot afford to be self-employed to set up a household without their parents. ‘

Professor Wilkins said successive governments were responsible for many young Aussies staying at home due to the housing crisis.

“Policies to make housing more affordable and increase housing supply are a clear way to address this,” Professor Wilkins said.

‘On the positive side, as a wealthier society with a longer life expectancy, some young people may be making a rational and conscious choice to delay getting into the harsh yakka of life.

“They decide to enjoy themselves and have fun while they are still young.

“Overall, baby boomers are also a relatively wealthy cohort, so their ability and willingness to house their children into adulthood has increased. It may not be the burden it once was for parents who were more economically constrained.”

Young Aussies are being put off traveling by pressure on the cost of living

Meanwhile, recent research from international travel company Contiki found that young Aussies are putting off international trips due to cost-of-living pressures.

While 42 percent enjoy college, they worry they will never be able to pay back their loans.

Additionally, 47 percent of students find college expensive and have to work part-time to pay for their expenses.

Even with full-time jobs, 48 ​​percent of young adults always look forward to their next payday, and 62 percent report a strong desire to save more for travel.

Only 39 percent would rather spend their money on traveling than saving for emergencies.

Research from travel company Contiki shows that around two-thirds of young Aussies would rather experience the world on an international trip than pursue university studies (stock)

Research from travel company Contiki shows that around two-thirds of young Aussies would rather experience the world on an international trip than pursue university studies (stock)

Contiki’s research also found that students were not enrolling in tertiary courses out of passion for the subject.

Instead, a majority of students did not want to disappoint their families or were afraid they would miss out on high-paying jobs.

“Young Aussies feel like they are expected to do a degree or course, many feel hit with the cost of living and understandably feel a little guilty about booking a holiday,” explains Toni Ambler, managing director of Contiki, out.

The travel company recently launched a program called Contiki University to help college students take a break from tourist hotspots while still learning what they are passionate about

During the trips you can brush up on Greek history while island hopping through the Aegean Sea, or learn about temple architecture in Southeast Asia.

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